Free cash flow in year 2028 |
£1,465,109,681 |
Terminal value in year 2028, (£1,465,109,681/[10% - 3%]) |
£20,930,138,294 |
Present terminal value discounted at 10% |
£12,995,969,161 |
Sum of present value of free cash flows |
£4,938,587,671 |
Value of company operations (£4,938,587,671 + £12,995,969,161) |
£17,934,556,832 |
+ Add cash & cash equivalents |
£2,492,000,000 |
- Less total interest-bearing debts |
£6,236,000,000 |
Business intrinsic value |
£14,190,556,832 |
Business intrinsic value per share |
£13.25 |